An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island. a. Specify the

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An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island.

a. Specify the competing hypotheses to determine whether median sales differ from $130,000.

b. At the 5% significance level, what is the decision rule? Assume the normal approximation for T.

c. Using the Convenience data, calculate the value of the test statistic.

d. At the 5% significance level, do median sales differ from $130,000?

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Business Statistics Communicating With Numbers

ISBN: 9780078020551

2nd Edition

Authors: Sanjiv Jaggia, Alison Kelly

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Question Posted: Dec 20, 2016 09:57 AM

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An entrepreneur examines monthly sales (in $1,000s) for 40 convenience stores in Rhode Island. a. Specify the

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a The competing hypotheses are b With Rej...View the full answer

Business Statistics Communicating With Numbers

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